IMF to Boost Funds for Poor Countries

WASHINGTON (AP) - The International Monetary Fund says it willsharply increase funds it provides to low income countries to help them deal with the global financial crisis.

The lending organization also says these countries, many in sub-Sahara Africa, will not have to pay interest on any IMF loans through 2011.

The head of the IMF, Dominique Strauss-Kahn, said Wednesday thenew measures totaling up to $17 billion are an unprecedented scaling up of IMF support for the poorest countries. He said the G20 countries asked the fund to help respond to the global financial crisis which has hit the low income countries so hard.

He says the new resources and new ways of delivering them shouldhelp prevent millions from falling into poverty.

Copyright 2015 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Online Public Information File

Viewers with disabilities can get assistance accessing this station's FCC Public Inspection File by contacting the station with the information listed below. Questions or concerns relating to the accessibility of the FCC's online public file system should be directed to the FCC at 888-225-5322, 888-835-5322 (TTY), or fccinfo@fcc.gov.